16,795 Shares in Marathon Petroleum Corporation $MPC Bought by Occidental Asset Management LLC

Key Points

• Occidental Asset Management acquired 16,795 Marathon Petroleum shares worth approximately $4.3 million, while institutional investors collectively own 76.77% of MPC.
• Analysts maintain a generally positive outlook, with 12 Buy ratings and six Holds, producing a “Moderate Buy” consensus and an average price target of $312.50. MPC recently traded at $359.78, near its 52-week high.
• Marathon Petroleum reported quarterly EPS of $17.73, beating estimates by $3.46, while revenue rose 53.5% year over year to $51.99 billion. The company also declared a quarterly dividend of $1.00 per share, or $4.00 annually.

Occidental Asset Management LLC acquired a new position in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 16,795 shares of the oil and gas company's stock, valued at approximately $4,294,000.

A number of other large investors have also added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB boosted its holdings in Marathon Petroleum by 3.2% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,288 shares of the oil and gas company's stock valued at $329,000 after purchasing an additional 40 shares during the last quarter. Equitable Trust Co. increased its holdings in Marathon Petroleum by 1.6% during the 1st quarter. Equitable Trust Co. now owns 2,637 shares of the oil and gas company's stock worth $644,000 after purchasing an additional 42 shares during the last quarter. Bartlett & CO. Wealth Management LLC raised its position in shares of Marathon Petroleum by 0.4% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 9,548 shares of the oil and gas company's stock valued at $2,411,000 after purchasing an additional 42 shares in the last quarter. Wellington Grp LLC boosted its stake in shares of Marathon Petroleum by 9.6% during the 1st quarter. Wellington Grp LLC now owns 516 shares of the oil and gas company's stock valued at $126,000 after buying an additional 45 shares during the last quarter. Finally, Avior Wealth Management LLC boosted its stake in Marathon Petroleum by 2.2% during the 2nd quarter. Avior Wealth Management LLC now owns 2,108 shares of the oil and gas company's stock valued at $539,000 after acquiring an additional 46 shares during the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Marathon Petroleum

In other news, SVP Shawn M. Lyon sold 2,500 shares of the company's stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $350.00, for a total value of $875,000.00. Following the completion of the sale, the senior vice president directly owned 12,619 shares of the company's stock, valued at approximately $4,416,650. This represents a 16.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Michael A. Henschen II sold 6,336 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the completion of the transaction, the vice president owned 16,900 shares of the company's stock, valued at $4,543,058. This trade represents a 27.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.17% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on MPC shares. Citigroup boosted their price objective on Marathon Petroleum from $303.00 to $318.00 and gave the company a "neutral" rating in a report on Wednesday, August 5th. BMO Capital Markets reiterated an "outperform" rating on shares of Marathon Petroleum in a research report on Friday, June 12th. Jefferies Financial Group set a $335.00 price target on Marathon Petroleum and gave the company a "buy" rating in a research report on Sunday, July 12th. Mizuho raised their price objective on Marathon Petroleum from $284.00 to $304.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 11th. Finally, Wall Street Zen raised shares of Marathon Petroleum from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 10th. Twelve investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $312.50.

Marathon Petroleum Stock Up 1.2%

MPC opened at $359.78 on Tuesday. The stock's 50 day moving average price is $289.19 and its 200 day moving average price is $249.51. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.25 and a quick ratio of 0.89. The stock has a market cap of $105.03 billion, a P/E ratio of 12.37, a P/E/G ratio of 0.23 and a beta of 0.52. Marathon Petroleum Corporation has a 12 month low of $160.87 and a 12 month high of $363.34.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $14.27 by $3.46. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.The company had revenue of $51.99 billion during the quarter, compared to analyst estimates of $40.87 billion. During the same quarter in the previous year, the firm posted $3.96 EPS. The firm's quarterly revenue was up 53.5% on a year-over-year basis. As a group, research analysts predict that Marathon Petroleum Corporation will post 46.66 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Wednesday, August 19th. Marathon Petroleum's dividend payout ratio is currently 13.75%.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation NYSE: MPC is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum's operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.

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